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@techreport{NBERw2354,
title = "An Overlapping Generations Model of Electoral Competition",
author = "Alberto Alesina and Stephen E. Spear",
institution = "National Bureau of Economic Research",
type = "Working Paper",
series = "Working Paper Series",
number = "2354",
year = "1987",
month = "August",
doi = {10.3386/w2354},
URL = "http://www.nber.org/papers/w2354",
abstract = {This paper presents a dynamic model of political competition between two "parties" with different policy preferences. A "party" is explicitly modeled as a sequence of overlapping generations of candidates, all of whom face finite decision horizons. In general, there is a conflict between the interests of the individual policymakers and those of the "party" , which includes subsequent generations of candidates. We characterize this conflict and suggest a scheme of "intergenerational transfers" within the party which can resolve or mitigate this conflict. The paper shows how the "overlapping generations" model can be usefully applied to the political arena.},
}